Tuesday, 30 May 2023 02:54 GMT

Advanced Building Materials Market Size, Share, Forecast 2023


(MENAFN- EIN Presswire)

global advanced building materials market was valued at $56.7 billion in 2021, and is projected to reach $111.7 billion by 2031, growing at a CAGR of 6.8%

PORTLAND, UNITED STATES, UNITED STATES, May 26, 2023 /einpresswire.com / -- Advanced building materials are materials used in the construction industry that are designed to provide improved structural strength, energy efficiency, and environmental friendliness. These materials are becoming increasingly popular due to their numerous advantages over traditional building materials. As the demand for energy-efficient, green, and cost-effective building materials continues to rise, the global advanced building materials market is expected to grow significantly in the coming years.

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Advanced building materials offer a range of benefits that make them ideal for use in new construction and renovation projects. These materials are often more durable and require less maintenance than traditional building materials. They also offer improved insulation, which can lead to reduced energy costs. Additionally, many advanced building materials are environmentally friendly, providing an eco-friendly solution for construction projects.

According to the report, the global advanced building material industry generated $56,736.47 million in 2021, and is estimated to reach $ 1,11,648.70 million by 2031, witnessing a CAGR of 6.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

The global advanced building materials market can be segmented based on type, application, and region. Based on type, the market can be divided into cement-based materials, masonry materials, and others. Cement-based materials are expected to dominate the market, due to their high durability and cost-effectiveness. Masonry materials are also expected to witness significant growth in the coming years, as they provide improved insulation and fire-resistance.

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By application, the advanced building materials market can be divided into residential, commercial, and industrial buildings. Residential buildings are expected to be the largest market, as they account for the majority of construction projects. Commercial buildings are also expected to witness significant growth, due to the increasing demand for energy-efficient and cost-effective solutions.

In terms of region, the global advanced building materials market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to be the largest market, due to the increasing demand for energy-efficient and cost-effective building materials in the region. North America is also expected to witness significant growth, due to the increasing awareness of environmental protection and the implementation of green building standards.

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David Correa
Allied Analytics LLP
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